Profession tax karnataka

Professional tax is a direct tax imposed on all types of professions, trades, and employment in proportion to an individual’s income. As per Article 276 of the Constitution, the responsibility of levying profession tax lies with the state governments. That’s why it differs from state to state. Each state has different rules and regulations for Professional Tax and there are some states which do not levy professional tax. The State of Karnataka levies professional tax. Let’s understand all the essential information regarding professional tax in Karnataka through this article. Eligibility for Professional Tax in Karnataka • Under the Karnataka Tax on Professions, Trades, Callings and Employments Act of 1976, individuals who earn a monthly income of Rs.10,000 or more are obligated to pay professional tax in Karnataka. • For salaried individuals with a monthly income greater than Rs.10,000 but less than Rs.15,000, the professional tax is Rs.150 per month. • If the monthly income of salaried individuals is over Rs.15,000, the professional tax is Rs.200 per month. • In the case of legal or medical practitioners, or professional consultants, the professional tax amount is dependent on the length of their service. The website: The Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976 will help you determine the tax liability depending on your length of your service. Who submits the Professional Tax in Karnataka • If you are a salaried employee in Karnataka, your...

The current TDS (Tax Deducted at Source) and TCS (Tax Collection at Source) rates have been reduced by 25% as part of the recent economic booster dose announced by FM Nirmala Sitharaman. Professional fees will also be charged at this reduced rate. Let us know more about Due Dates For Profession Tax Payment All business owners must know the final dates for payment of annual professional taxes in their respective states. At the same time, they should be aware of the professional tax slabs in their state. They might have to pay additional sums of money if they surpass the professional tax payment due date. Let us see more about the due dates for professional tax payment and professional tax meaning. In this blog, let us see the due date for payment of professional tax of employee, professional tax payment due date in Maharashtra, professional tax due date in Tamil Nadu, PT payment due date in Kolkata, and professional tax payment due date in Karnataka. Profession tax is levied at the state level (but not all states) on all workers. This includes the salaried, whether working in government or non-government entities, the self-employed and professionals, including Chartered Accountants, Doctors, and Lawyers. This tax has existed since the 1970s, and states have conferred the power of levelling the Tax under Clause (2) of Article 276. The rate at which Professional Tax Payment Due Date of payment in Maharashtra • In the case of tax liability of less than ₹50,000 in the previous ...